HRO Today July/August 2016 - 42

Workforce Management
The Power of Data
Learn how three organizations gain insight-and a competitive
advantage-by executing analytics.
By Dustin Burgess
Today's reality of big data is pretty straightforward:
Although organizations have access to more data
than ever before, their ability to extract meaningful
business insights is not keeping pace with its availability.
According to a 2015 survey of more than 2,000 managers
conducted by MIT Sloan Management Review and SAS
Institute, the competitive advantage with analytics
is waning. The percentage of companies that report
obtaining a competitive advantage with analytics has
declined significantly over the past two years. In fact,
the number has declined from 68 percent in 2012 to 52
percent in 2015.
HR executives are feeling this pain in very acute ways, as
the war for talent has made successful talent acquisition
strategies a business-critical component. Achieving a
competitive advantage through actionable insights
into data has become the holy grail for talent-starved
enterprises. It is more important than ever for these
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HRO TODAY MAGAZINE | JULY/AUGUST 2016
managers to access the kind of talent that will allow them
to drive value from the data, in the form of new solutions
and actionable plans.
Within the world of human resources and talent
acquisition, one of the most data-rich landscapes is
the contingent workforce. Companies are employing
contingent labor across the globe, in a variety of
different work arrangements. Data can help drive
decisions about where, when, who, and how to employ
their temporary workers. For example, a large utilities
company was able to leverage their contingent worker
data to help them facilitate the decision-making process
on when to renew, release, replace, or re-deploy
contingent workers. By understanding what known
resources were going to be available, the organization
was then able to look at both objective and subjective
data points to evaluate each worker's performance
and determine if the worker should stay on the roster.

HRO Today July/August 2016

Table of Contents for the Digital Edition of HRO Today July/August 2016

HRO Today July/August 2016 - 1
HRO Today July/August 2016 - 2
HRO Today July/August 2016 - 3
HRO Today July/August 2016 - 4
HRO Today July/August 2016 - 5
HRO Today July/August 2016 - 6
HRO Today July/August 2016 - 7
HRO Today July/August 2016 - 8
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